In the wake of the COVID-19 pandemic how we do business is changing radically. The coming weeks and months will bring payment pressures to the surface for many companies as they are not able to comply with their financial obligations. We have been actively advising clients to keep the channels of communication open throughout the supply chain as this shall pass. In the meantime, we … Continue reading COVID-19 Impact on Director’s Duties: Insolvency & Safe Harbour Relief »

Since the World Health Authority declared the COVID-19 virus outbreak a global pandemic on 11 March 2020, we have seen unprecedented scenes of panic and hysteria. It has been interesting observing peoples’ reactions, ranging from obsessively buying toilet paper and hand sanitiser, through to calls for solidarity and caring for the vulnerable in our community. The COVID-19 outbreak has exposed gaps at many aspects of … Continue reading COVID-19 An Opportunity to do Business Differently »

As the Festive Season brings increased trade, of the most important things to have in place are robust and compliant Terms and Conditions for your business that should set out clear guidance about how your business will deal with the expected wave of exchanges, returns and refunds of Christmas gifts. The Australian Consumer Law (‘ACL’) sets out clear rules about these and other issues, including how … Continue reading Terms & Conditions, Advertising & Promotions: Sleighing the Sales this Festive Season »

‘Tis the Season for businesses to adopt innovative ways to sell their goods and services in anticipation of attracting the Festive Season consumer. That’s why we have put together some essential information about gift cards to help your business comply with the Australian Consumer Law during the Silly Season. NEW GIFT CARD RULES If your business issues gift cards then the recent changes to the Australian … Continue reading Don’t Get Your Tinsel in a Tangle with the ACCC – New Gift Card Rules »

Prisma Legal is excited to announce its collaboration with the Monash University Innovation Law Clinic. Having been a Practice Manager of the Springvale Monash Legal Service and a past participant of the Monash Law Clinic program as an undergraduate law student, Fotini is thrilled to have been invited to contribute in this invaluable clinical legal education program. Monash University Law Clinics provide access to justice … Continue reading Prisma Legal Collaboration with Monash University Innovation Law Clinic »

Tonight was a seminal moment for the Prisma Legal team as we were recognised as finalists for NewLaw Firm of the Year at the 2019  Australian Law Awards in Sydney. This is a great honour and a significant acknowledgment of a journey that began less than two years ago. We are bursting with pride and feel immense gratitude for the trust of our valued clients … Continue reading Prisma Legal Recognised at Australian Law Awards 2019 »

PPSR Security interests that were registered on the Personal Property Securities Register (PPSR) on the commencement of the regime back in January 2012 are due for renewal on 30 January 2019. Initial registrations made for a period of 7 years are due to expire at the end of this month. These include transitional security interests which migrated onto the PPSR from ASIC registers. To ensure … Continue reading PPS Registration Renewals are Due – Don’t Lose Your Priority! »

We are often approached by clients seeking advice about how they can reign in customers who have a tendency to drag out payment terms, choking their cash flow. Your terms and conditions of trade (“Terms”) are the key to regaining control. As important as they are, the significance of having robust Terms is often overlooked. Set the Ground Rules Your Terms play a pivotal role … Continue reading Ditch Your Debtors »

A Shareholder Agreement is a document which governs the conduct, rights and responsibilities of shareholders and directors of a company. If your business operates from a unit trust, a Unit Holder Agreement works in a similar way. An agreement of this nature is  akin to a pre-nuptial agreement for your business. If all goes well you’ll never need to take it out of the file, … Continue reading Shareholder Agreements; Creating Certainty for Your Business »